GK
BUSINESS MANAGEMENT
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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employment laws, restrictions on trade, tax policies
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involves estimating the cost of the risk to the business if it occurs
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government regulations, foreign influences
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technical failures, not keeping up-to-date with technology
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unemployment rates, interest rates, stock market
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Detailed explanation-1: -Political factors that affect businesses include taxation, employment laws, and political stability. They can impact a business positively or negatively by influencing how companies operate. One of the negative impacts is the introduction of risk.
Detailed explanation-2: -A PESTEL analysis is used to identify threats and weaknesses which are used in a SWOT analysis. Political factors include government policies, leadership, and change; foreign trade policies; internal political issues and trends; tax policy; regulation and de-regulation trends.
Detailed explanation-3: -The political-legal environment is a combination of a lot of factors such as the current political party in power, the degree of politicization of trade and industry, the efficiency of the current government, government policies, current legal framework, the public attitude towards the economy, etc.
Detailed explanation-4: -Political factors These stem from government policies and the extent to which these and any changes that are implemented have an influence on an organisation or a business. In HR terms, examples include changes to tax rules or employment laws, and the introduction of new rules with which a business must comply.